Cryptocurrency Q&A
How much tax is on crypto in the USA?
How much tax is on crypto in the USA?
CryptoVeteran
Sat Oct 12 2024
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7 answers
1498
I'm wondering about the tax implications of cryptocurrency in the United States. Specifically, I want to know how much tax is levied on crypto transactions or holdings in the US.
7 answers
NebulaSoul
Mon Oct 14 2024
For short-term capital gains, which are typically realized within a year of acquiring the crypto asset, the tax rates can range from 10% to 37%.
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lucas_taylor_teacher
Mon Oct 14 2024
In contrast, long-term capital gains, which are realized after holding the crypto asset for more than a year, may be taxed at a significantly lower rate.
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DigitalDragonfly
Mon Oct 14 2024
The long-term capital gains tax rate can vary depending on your income level, with rates as low as 0% for taxpayers in the lowest income brackets and as high as 20% for those in the highest brackets.
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DigitalDuke
Mon Oct 14 2024
Crypto taxes are a vital aspect of cryptocurrency investments, as they represent a percentage of the gains made on your holdings.
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Stefano
Mon Oct 14 2024
It's important to note that the exact tax rates and rules can vary by country, so it's crucial to consult with a tax professional to understand the specific requirements in your jurisdiction.
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